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No obligation, no pressure — just a clear look at your best rate.
Compare My HELOC & HELOAN RatesA HELOC (Home Equity Line of Credit) and a HELOAN (Home Equity Loan) both let you borrow against the equity you've built. Here's exactly how they differ, so it's clear which one fits your situation.
|
Flexible
HELOC
Home Equity Line of Credit
|
Fixed
HELOAN
Home Equity Loan
|
|
|---|---|---|
| Structure | Revolving line of credit (3–5 year draw period) | Lump-sum second mortgage |
| Rate type | Variable or fixed | Fixed |
| How you get funds | Initial required draw, then draw more as needed up to your limit. You can pay down and re-access equity up to the total line amount as needed within the draw period. | Full amount disbursed at closing |
| Repayment |
|
Fixed monthly payment for the full term |
| Term | Multiple terms available — 10, 15, 20, or 30-year options | Multiple terms available — 10, 15, 20, or 30-year options |
| Best for | An upfront expense now, with room to draw more equity later | One-time, known expense |
| First mortgage | Unaffected — stays in place | Unaffected — stays in place |
Not sure which one fits? We'll walk through both with you — no obligation.
Kitchens, additions, and repairs that build long-term value.
Roll higher-rate balances into one predictable payment.
Tuition or other expenses, on your own timeline.
A financial cushion for whatever comes up next.
We shop HELOC and HELOAN terms across our lender network.
Once approved, your line or loan closes and funds become available.
Instead of calling around yourself, we shop HELOC and HELOAN terms across our lender network and bring you the options that fit — with one point of contact throughout. Everything happens by phone and online, so there's no office visit required.
A HELOC (home equity line of credit) is a revolving line you draw from as needed, usually with a variable rate. A HELOAN (home equity loan) gives you a single lump sum upfront at a fixed rate. Which one fits depends on whether your expense is ongoing or one-time.
Most lenders allow you to borrow up to 80–90% of your home's value, combined across your first mortgage and the new loan. The exact amount depends on your home's value, existing mortgage balance, and credit profile.
No. Both sit as a second lien behind your existing mortgage, which keeps its current rate and terms untouched.
Common uses include home renovations, debt consolidation, education costs, and major purchases. There are typically no restrictions on how the funds are used.
Timelines vary by lender and documentation, but many HELOCs and HELOANs close within a few weeks of a completed application.
No obligation, no pressure — just a clear look at your best rate.
Compare My HELOC & HELOAN Rates